Melcor Developments (TSE:MRD) Hits New 12-Month High - Should You Buy?

Key Points

• 52-week high: Melcor Developments (TSE:MRD) reached a new 52-week high, trading as high as C$18.68 (last C$18.60) on a volume of 16,358 shares.
• Quarterly results showed C$1.05 EPS on C$187.12 million in revenue, analysts expect roughly C$2.36 EPS for the fiscal year, and the stock trades at a relatively low P/E of 9.74.
• Dividend increase: The company raised its quarterly dividend to C$0.15 (C$0.60 annualized), yielding about 3.2% with a dividend payout ratio near 25%.

Melcor Developments Ltd. (TSE:MRD - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$18.68 and last traded at C$18.60, with a volume of 16358 shares traded. The stock had previously closed at C$18.59.

Melcor Developments Price Performance

The company has a market capitalization of C$559.04 million, a price-to-earnings ratio of 9.74 and a beta of 0.40. The company has a 50-day moving average price of C$17.73 and a 200-day moving average price of C$16.12. The company has a debt-to-equity ratio of 43.27, a quick ratio of 2.65 and a current ratio of 5.23.

Melcor Developments (TSE:MRD - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported C$1.05 earnings per share (EPS) for the quarter. The company had revenue of C$187.12 million during the quarter. Melcor Developments had a return on equity of 4.65% and a net margin of 14.13%. On average, equities research analysts expect that Melcor Developments Ltd. will post 2.3613596 EPS for the current fiscal year.

Melcor Developments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, March 20th. This is an increase from Melcor Developments's previous quarterly dividend of $0.13. Melcor Developments's dividend payout ratio is presently 25.13%.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.

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